UP Fintech (NASDAQ:TIGR) Shares Gap Down – Time to Sell?

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $8.32, but opened at $7.90. UP Fintech shares last traded at $8.30, with a volume of 2,804,535 shares.

Wall Street Analyst Weigh In

TIGR has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on UP Fintech in a report on Thursday, January 2nd. They set a “buy” rating and a $9.40 target price for the company. Citigroup reissued a “sell” rating and set a $5.50 price target (up from $5.00) on shares of UP Fintech in a research report on Tuesday, October 22nd. Finally, China Renaissance raised UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 target price on the stock in a research report on Thursday, October 24th.

UP Fintech Stock Performance

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 44.35 and a beta of 0.86. The company has a 50-day moving average of $6.98 and a 200-day moving average of $5.92.

Institutional Investors Weigh In On UP Fintech

Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake in UP Fintech by 527.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock worth $30,000 after buying an additional 3,901 shares during the last quarter. GAMMA Investing LLC grew its stake in UP Fintech by 53.6% during the 3rd quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock worth $32,000 after buying an additional 2,104 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in UP Fintech during the 4th quarter worth $34,000. Blue Trust Inc. grew its stake in UP Fintech by 198.6% during the 3rd quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after buying an additional 9,748 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in UP Fintech by 38.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock worth $84,000 after buying an additional 4,377 shares during the last quarter. 9.03% of the stock is owned by institutional investors and hedge funds.

About UP Fintech

UP Fintech Holding Limited provides online brokerage services focusing on Chinese investors. The company has developed a brokerage platform, which allows investor to trade stocks, options, warrants, and other financial instruments that can be accessed through its APP and website. It offers brokerage and value-added services, including investor education, community engagement, and IR platform services.